Analysts Set Expectations for Polaris Inc.’s Q3 2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Roth Capital reduced their Q3 2024 earnings estimates for shares of Polaris in a research report issued to clients and investors on Wednesday, July 24th. Roth Capital analyst S. Stember now forecasts that the company will post earnings per share of $0.88 for the quarter, down from their previous forecast of $2.79. The consensus estimate for Polaris’ current full-year earnings is $3.60 per share. Roth Capital also issued estimates for Polaris’ Q4 2024 earnings at $1.50 EPS, FY2024 earnings at $4.00 EPS, Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $1.65 EPS, Q3 2025 earnings at $1.57 EPS, Q4 2025 earnings at $1.89 EPS and FY2025 earnings at $5.64 EPS.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. Polaris’s revenue was down 11.5% on a year-over-year basis.

A number of other equities analysts have also commented on the company. Bank of America dropped their price target on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com cut Polaris from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Citigroup lowered their price objective on Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday. Robert W. Baird cut their target price on Polaris from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets lowered their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.18.

Polaris Stock Performance

PII opened at $79.00 on Friday. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 6.82 and a beta of 1.53. Polaris has a fifty-two week low of $71.90 and a fifty-two week high of $138.49. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.42 and a current ratio of 1.42. The company has a fifty day moving average of $79.36 and a 200 day moving average of $86.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors grew its position in shares of Polaris by 2.4% during the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock worth $640,447,000 after buying an additional 160,918 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Polaris by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock valued at $590,924,000 after purchasing an additional 94,680 shares in the last quarter. Confluence Investment Management LLC purchased a new position in Polaris during the first quarter valued at approximately $108,890,000. Dimensional Fund Advisors LP raised its stake in Polaris by 10.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 851,098 shares of the company’s stock worth $80,663,000 after buying an additional 82,779 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Polaris by 6.8% during the first quarter. Raymond James & Associates now owns 405,105 shares of the company’s stock worth $40,559,000 after buying an additional 25,685 shares during the period. Institutional investors own 88.06% of the company’s stock.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.